medtech forum 2015 technology enabled medtech eco02122015
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medtechforum.eu
Digital Transformation in the MedTech Industry
Erik Cotman
medtechforum.eu
New technologies, empowered consumers, disruptive new entrants, and an aging population are changing healthcare
1. Demographics
• Aging society
• Increased ethnic diversity
2. Consumer Empowerment
• Greater responsibility
• Demand for value
3. S.M.A.C.
• Social, mobile, analytics, and cloud merge
4. New Entrants
• Non-traditional players disrupt status quo
5. Care Anywhere
• Accessible healthcare through mobile, retail
In this New Health Economy, as the traditional lines between segments blur, you cannot operate within a silo
2
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Rising healthcare costs are prompting healthcare systems to reward for better outcomes, better quality, cost savings and value
3
Increase in chronic disease
Ageing population
Increasing system costs
Inefficiency and waste
Fragmentation of care
More volume than value
Consumerism
Reform/Talk of reform
Providing Care, a balancing act
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There is a trend from inpatient care to outpatient services
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Primary Care Centre
Mobile platform to
connect patients to the
care network and enable
continuity of care
1
Analytics and its
dissemination with
other care settings to
make effective
decisions thus driving
higher quality care
within the network
2
home
Acu
te C
are
Research Facility Tertiary Care Centre
Standard-of-Care
Medical Learnings and
Discovery
Collaboration platform to facilitate
real-time use of patient data to
enable dynamic triaging and
learning
3
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Technology via remote monitoring, telemedicine and mobile devices will help usher a move towards home care
5
Mobile system gives physicians and caregivers remote access to a patient's vital signs from anywhere within the hospital.
A device lets doctors conduct real time consultations using a revolving robot.
Patch cardiac rhythm monitor provides continuous monitoring for up to 14 days.
Sensor mat is placed under mattresses to monitor a patient's presence, sleep pattern, heart rate and breathing rate.
Sensors on the patient and throughout the home detects falls, wandering, missed medication
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Moving from Healthcare to Health
6
Source: PwC analysis (2014)
Fitness and wellness is a fast growing market across the globe
$1.49 trilliontotal global ancillary/wellness
market size
$391B
Global nutrition
market
$236.5B
Sporting goods
and apparel
$595B
Weight loss
industry
$8.02B
Mobile
health apps
$114B
Alternative
medicine
$48B
Medical
tourism
$3.1B
Wearable
devices
$113. 4B
Natural &
organic foods
$109.5B
Supplements
$43B
Natural and
organic
personal care &
household products
$125.1B
Functional
foods
$19.4B
RPM/
Telemedicine
$78.4B
Global fitness
industry
medtechforum.eu
Do it yourself healthcare
Digital Natives make decisions to engage or not in 1/20 of a second.
DIY Patient?
Sources: MillwardBrown, Nielsen Norman Group
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US consumers are ready to abandon traditional care models for more digital, do-it-yourself options
Percent of US respondents answering “Very likely” and “Somewhat likely” to consider these
alternatives:
Check for ear infection using device attached to phone
46.9%54.8%
Evaluation of minor skin conditions
Ah
Use an at-home strep test
58.6%
Source: PwC Health Research Institute, April 2014, “Healthcare’s New Entrants: Who will be the industry’s Amazon.com?”
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Digital is not a set of channels. It’s a cultural shift in behavior.
This is the new reality also in Europe.
BEHAVIORAL SHIFT
9PwC
medtechforum.euPwCmedtechforum.eu
Consumers in other countries also are open to new ways of receiving care
Source: PwC Sweden: The doctor is in – your smartphone: Is Sweden ready for digital and virtual care? 2015; PwC Canada - Making
Care Mobile, 2014; PwC Germany: Health Care & Pharmaceuticals New Entrants Consumer Survey, 2014
48% of Germans
are willing to invest their own money, for example in an app to book appointments
43% of Germans
are open to the offers by new entrants. The only requirement is the same quality
40% of Swedish
consumers are open to virtual care and DIY solutions over traditional care options
33% of Swedish
consumers are open to a physician visit via a smartphone
79% of patients
in Canada do or would use email services with their doctor
67% Canadians
would consider using vHealth options for their own care or for someone they care for
medtechforum.eu
Blurring lines between traditional players combined with Digital DNA from new entrants are shaping new Digital Innovation Zones
Healthcare providers
Government
Healthcare payers
Pharmaceuticals and life sciences
Retail and consumer
Financial services
Telco
Technology
ConsumerPrimary Caregiver
Specialty Caregiver
Family Caregiver
Payer, Employer, other risk-bearing entity
USERS
4
DIGITAL INNOVATION ZONES
Care Transparency
Digital Therapy & Delivery
Care Coordination
medtechforum.euPwCmedtechforum.eu
This fertile ecosystem is attracting diverse, sophisticated new entrants into healthcare
12
3 Telecom
7 Retailers
4 Finance
14Traditional Healthcare Companies
24New
Entrants
12Non
healthcare players
2 Automotive 3 Consumer Products
5 Technology
Fortune 50
Large Conglomerates Start Ups & Niche Players
Source: PwC Health Research Institute, April 2014, “Healthcare’s New Entrants: Who will be the industry’s Amazon.com?”
Any trademarks included are trademarks of their respective owners and are not affiliated with, nor endorsed by, PricewaterhouseCoopers LLP.
medtechforum.eu
…and are being enabled and driven by collaborative plays between pharma life sciences and new entrant players
Teva Pharmaceuticals and IBM Partner to Build Global e-Health Solutions on the IBM Watson Health Cloud
Proteus Digital Health and Otsuka Seek FDA Approval for World’s First Digital Pill
Roche and Qualcomm join forces for next-gen remote patient monitoring solution
7
Biogen CEO says the biotech aims to develop wearable and ingestible devicesWearables
Novartis to Begin Human Testing of Google’s Smart Contact Lens in 2016
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SENSOR
DRUG ELUTING DEVICE
SECONDARY DATA USE
Heart rate, blood glucose, etc.
Patch, sensor,watch
Trials, Watson
HealthyCircles
“CONNECTED” APPLICATION
INTERACTION HUB “INDIVIDUAL” APPLICATION
iPhone MyFitnessPal
ECOSYSTEM
Collaboration in a multi-stakeholder ecosystem will be a critical part of New health
medtechforum.eu
Technology Investment – Show Me the Money
Source: Rock Health Funding Database
medtechforum.eu
Where do you want to be...?
© 2015 PricewaterhouseCoopers. All rights reserved. “PricewaterhouseCoopers” refers to the
network of member firms of PricewaterhouseCoopers International Limited, each of which is a
separate and independent legal entity.
medtechforum.eu
.
This is about a different way to
organize ourselves and to sell and deliver to
our customers
The new consumer is the new patient and has new expectations
All healthcare stakeholders– Payers
and Providers - are looking at new
business models that impact our Industry
Digital transformation crosses commercial,
R&D, and supply chain
The rise of a new era. It is called Digital
medtechforum.eu
MedTech needs new services and business models to survive and grow, through radical innovation
18
The Level of Innovation
The degree of technology and businessmodel change determine the level ofinnovation.
MedTech companies should:
• Be ambidextrous;• Collaborate to get
closer to the patient;• Measure innovation T
ec
hn
olo
gy
Ch
an
ge
Business Model Change
Incremental
Break through
Radical
Low
19
Becoming the disruptor, not the disrupted.
Move Digital
Move Partnerships
Move Patient Centric
Move Value
Move ForwardPwC
The term innovation needs redefining in anenvironment that rewards VALUE –measured in affordable patient outcomesand customer satisfaction – over Volume.
medtechforum.eu
Thank you
www.pwc.com/us/healthcarenewentrants
www.pwc.com/global-health
erik.cotman.rbr@be.pwc.com
+32495273624
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